introduced a no-minimum-balance electronic transfer account for people who get benefits, salaries, or pensions from the U.S. government but who do not have a bank relationship.

The Treasury Department established so-called ETA accounts to satisfy the requirements of the 1996 Debt Collection Improvement Act, which took effect this year and mandates that most federal payments except tax refunds be sent to people electronically.

The Puerto Rican bank is owned by $264.5 billion-asset Banco Santander Central Hispano.

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